Merrill initiates coverage of Intuit at "buy"

SteveGelsi

Merrill Lynch said it's initiating coverage of Intuit
INTU, -0.62%
at a "buy" and a $60, 12-month price target for the maker of financial productivity software. Merrill said the company will likely sustain earnings growth in the 25 percent range over the next few years "through a combination of organic revenue growth, expanding margins, and complementary acquisitions." Shares of Intuit rose $1.52 to $47.52 on Friday.

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